The Entry to Adjust the Accounts for Salaries Accrued at the End

question 195

Multiple Choice

The entry to adjust the accounts for salaries accrued at the end of the accounting period is

• A) debit Salaries Payable; credit Cash
• B) debit Cash; credit Salaries Payable
• C) debit Salaries Payable; credit Salaries Expense
• D) debit Salaries Expense; credit Salaries Payable

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Definitions:

Registration Statement

A document submitted to a regulatory authority, detailing the securities being offered for sale to the public, including financial and management information.

Securities and Exchange Commission

A U.S. federal agency that oversees and enforces federal securities laws to protect investors and maintain fair, orderly, and efficient markets.

Insider Trading

Buying or selling a publicly-traded company's stock by someone who has non-public, material information about that stock.

Securities Exchange Act of 1934

A U.S. federal law that regulates the secondary trading of securities (stocks, bonds, and debentures) in the stock market.